Bitcoin (BTC) Hovers Near $60K as ETF Outflows Surge to June Record

Key Highlights

• Thursday saw US spot Bitcoin ETFs hemorrhage $696.3M—marking June’s steepest single-day withdrawal
• Bitcoin ETF net outflows for 2025 have now climbed to $4.6 billion
• ETF total net assets have plummeted approximately 57% from their October 2025 zenith of $169.5 billion
• Strategy maintains 844,000 BTC acquired at roughly $75,600 average, facing over $13 billion in paper losses
• STRC, Strategy’s preferred stock, languishes around 27% beneath its $100 par value, sparking doubts about fundraising strategy

Bitcoin exchanged hands near $60,240 Saturday morning, registering a modest 0.40% daily gain, while market participants grappled with persistent ETF redemptions and growing skepticism surrounding Strategy’s financing approach.

Spot Bitcoin exchange-traded funds listed in the United States experienced their most severe single-session exodus of June on Thursday, hemorrhaging $696.3 million. This surpassed the month’s prior peak of $519.2 million witnessed on June 2, per SoSoValue tracking data.

June’s cumulative ETF redemptions have now climbed to $3.61 billion, elevating year-to-date net withdrawals to $4.6 billion.

Aggregate net assets across US spot Bitcoin ETFs have declined beneath $73 billion—representing the weakest position since late 2024. This marks a dramatic contraction from the record $169.5 billion achieved in October 2025, reflecting approximately 57% erosion.

According to WalletPilot metrics, ETFs collectively controlled 1.24 million BTC as of Tuesday, with roughly 63,500 BTC exiting these investment vehicles throughout the preceding 30-day period.

Strategy’s Accumulation Pace Decelerates

Strategy, recognized as the globe’s dominant corporate Bitcoin accumulator, has acquired approximately 3,600 BTC during June thus far. This represents a significant deceleration from roughly 25,000 BTC purchased in May and exceeding 50,000 BTC secured throughout April.

The corporation also executed an uncommon net disposition of 32 BTC earlier this month. Strategy currently controls 844,000 BTC with an average acquisition cost of approximately $75,600 per token, resulting in excess of $13 billion in unrealized deficits at prevailing market valuations.

These paper deficits exceed the complete market capitalization of numerous prominent cryptocurrencies, encompassing Dogecoin, Cardano, and Chainlink.

STRC Faces Mounting Pressure Before June 30 Adjustment

Strategy’s perpetual preferred equity instrument, STRC, concluded Thursday’s session at $75.69, declining 6.37% during the trading day and currently positioned approximately 27% beneath its $100 par threshold. Its effective yield has escalated to roughly 15%, climbing from its nominal 11.5% rate.

June 30 represents a critical juncture—STRC shares will commence trading ex-dividend and experience their monthly rate recalibration. Shareholders maintaining positions prior to this date will obtain a $0.48 per share distribution on July 15.

Ripple CEO Brad Garlinghouse expressed to CNBC his continued optimism regarding Bitcoin while simultaneously criticizing Strategy’s dependence on preferred stock offerings to finance BTC acquisitions, characterizing it as financial maneuvering rather than sustainable value generation.

Cryptocurrency analyst alicharts noted on X that Bitcoin infrequently trades beneath its 200-week simple moving average, emphasizing that historically these instances have represented robust long-term accumulation windows. The analyst recommended this as “precisely when implementing a dollar-cost averaging approach makes sense.”

Bitcoin sustained proximity to the $60,000 threshold as of Saturday morning, with market participants closely monitoring the June 30 STRC dividend adjustment as the subsequent pivotal catalyst.

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